Over a two week period, corporate advisory firm Clearwater International transacted with three major players, with an aggregate deal value in excess of €750m.
Following a record breaking year which saw the firm close over 100 transactions across Europe worth over €13bn, the UK arm celebrates its 15th Birthday.
Having already completed four deals to kick-start the new financial year, Clearwater advised leading affordable housing provider Westleigh Partnerships, on its sale to housing developer Countryside Properties plc. The transaction saw the Midlands-based business sell for €155m. This provided a successful exit for Palatine Private Equity, who achieved over a 3x return and a 90% IRR within two years. In 2016 Clearwater International created the original deal for Palatine which was the first investment for its Midland’s office.
Clearwater International then advised on the buy-out of leading casual dining chain, Pizza Hut Restaurants, from its private equity backer Rutland Partners. Rutland invested in 2012 in a deal where management were advised by Clearwater International. Assisted through funding from Pricoa Capital Group, the household name now aims to drive further growth in the UK, with potential new restaurant openings in place with its brand owner, Yum! Brands.
Most recently Clearwater advised market-leading pet food manufacturer, Partner in Pet Food (PPF), on its sale to international private equity firm, Cinven. This deal represents a tertiary buy-out for PPF, Clearwater International having advised the management on all three transactions.
These transactions demonstrate Clearwater’s ability to assist clients in realising their strategic growth potential, leverage strong knowledge of the private equity market, and create longstanding client relationships. The results see Clearwater delivering excellent outcomes for its clients and continuing to increase its average deal size.
Phil Burns, UK Managing Partner, Clearwater International commented: “Our team invests a huge amount of care and attention into getting to know our clients and their goals. We commit ourselves to finding the best solution for the business, despite any challenges. It’s because of these qualities that we see repeat business and are able to build strong relationships. We’ve seen some incredible results for these businesses and look forward to continuing this momentum.”